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leader harry reid has joined her in making comments back at capitol hill. we'll let you know what they say as soon as that is transmitted to us. there are other directed comments they made little progress something they have been saying after the meetings the last few months. adam? >> we're looking to turn around reid's comments so we all can hear them. when you talk about the president he is up-or-down vote, someone referred to this as plan-c. is this the offer you reported on a while back where he would move the bottom line tax increase to 400,000 for the upper incomes as opposed to 250,000? is that on the table. >> we don't know if that is the specifically the offer on the table. it started at president's opening offer 250. you could see a pathway forward to raise the threshold up to 400, $500,000 a year, any amounts below that don't get tax increase. any amounts above that get tax increase. end of the year fixes preventing medicare doctors getting large pay cut. amt fix, prevents millions of americans paying the amt reform kick that to next year. that is sort of the path aides
can pass, but the senate first must act. well, this morning, senate majority leader reid slammed the house republicans not not even showing up. >> if we go over the cliff, and it looks like that's where we are headed, the house of representatives as we speak with four days left after today before the first of the year aren't here with the speaker having told them they will give them 48 hours inside. i can't imagine their conscious. >> well, senator reid is expected to hold a news conference about the talks this afternoon. so here is where we stand. reid wants to get a vote on at least a basic bill to delay the automatic spending cuts, provide the unemployment benefits and still cut taxes for most americans. but it sounds like reid doesn't want to get played here. he says he's going to only bring that bill to the floor if the house agrees to work with him on final passage. the house couldn't deliver a vote on the last republican plan so that condition seems like a deal breaker. but tom cole, the number four house republican says sometimes the real imagine ek happens in the bottom
it does, the senate majority leader harry reid is expected to weigh in, in just about ten minutes on the looming fiscal cliff. reid and his fellow senators are under intense scrutiny after john boehner said the democratic controlled senate must act first on proposals already passed by his chamber. we will bring you reid's remarks as they happen. >>> as the clock ticks down toward the fiscal cliff, washington has a new worry the debt ceiling, treasury secretary tim geithner says the united states will hit its legal borrowing limit on monday. alison kosik is in new york. i feel like it's groundhog day. >> i know it really is. what's old is new again, right, carol? let me kind of back up the bus here. we start talking about the debt ceiling and i know people's eyes glaze over. let me tell you exactly what the debt ceiling is. it's a cap set by congress of the amount of money the federal government can borrow. right now the ceiling is at $16.394 trillion and treasury secretary tim geithner said earlier this week we could hit that debt ceiling on monday, on new year's eve and the treas
and listen to what senate majority leader harry reid is saying. >> we really are running out of time. americans are still threatened with a tax hike. in just a few hours. i hope we can keep in mind and i know we will our single most important goal is to protect middle class families. whether or not we reach an agreement and the short time we have left we'll need cooperation on both sides to prevent taxes from going up tomorrow for every family in america. i repeat there is still some issues that need to be resolved before we can bring the legislation to the floor. >> under the previous order then the senate will proceed to business until 12:00 noon. this is for debate only. senators are permitted to speak -- >> there you go. the senate floor. we are listening to them as senate majority harry reid opened it up for today after they called it a day yesterday. joining us now is congressman steny hoyer, the house minority whip. thanks for being with us. i appreciate your time. you listened to our report from mike viqueira. you just heard senate majority harry reid. he spoke. from what you
reid saying significant distance remains between the two sides. good morning everyone, i'm gregg jarrett in for bill hemmer here in "america's newsroom.". >> i'm heather childers in for martha maccallum the senate gavels in at 11:00 a.m. we'll see if there was some miracle overnight. gregg: i doubt that. yesterday, republican senate leader mitch mcconnell made an emergency call to the vice president joe biden in an evident to jump-start negotiations. heather: if no deal is haed out today, majority leader reid says he will call a vote on a separate white house plan that reflects's original proposal. gregg: chief correspondent mike emanuel kicks off the coverage. mike, where do the things stand in the fiscal cliff talks at this critical late-stage? >> reporter: gregg, there seems to be some hope that conversations between vice president joe biden and senator mitch mcconnell can produce a deal. aides say the two men spoke multiple times last night and will continue working toward a solution. mcconnell called the vice. president bush: after weighing 18 hours from senate majority lead
on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm eamon javers is live. what do we know? >> the president is coming back early, a couple days earlier than his vacation. did a little bit of jogging, working out in the gym over his vacation. now he will be,ing would out on this fiscal cliff. the senate is coming back and the house of representatives is going to have a conference call for all republicans later on today and then yesterday, we saw the secretary of the treasury, tim geithner, announced the $16.4 trillion debt limit is going to be reached by monday, that was a little bit surprising to people who haven't been following this kind of thing and raises the stakes for the fiscal cliff end game because the white house had wanted a debt ceiling deal as part of the overall deal here on the fiscal cliff. republicans
question this. that negotiations between harry reid and mitch mcconnell suffered a major setback after republicans demanded the inclusion of a new method for calculating benefits for the package. change came from progressives to result in lower payments. part of the current negotiations on the scale down deal, they say that they gave ground on other issues, including raising the tax threshold, as well as -- that was from two hours ago. sheila jackson mentioned the change that she objects to, she and other outside democrats and house progressives in particular. don is on the democrat's line. go ahead with your comments. caller: i am an old disabled veteran. i love this country so much. i cannot understand for the life of me what our government is trying to do with the bickering and tearing each other down, tearing the country down. why in the world can these supposedly intelligent groups of men and women not get together to work out for the best interest of all concerned, all 330 billion americans, what is the best course to take? just take it. none of this squabbling. get together, fol
a rational negotiant. -- negotiation. i think senator reid should get a vote for congress. that is about all have to say. host: patrick from montgomery, alabama. a republican from indiana and incoming republican freshman class president was on with us on a "newsmakers." i want to play you a piece of him talking about the involvement of newly elected members. >> how involved are new elected members? a house republican conference has been holding conference calls. are you guys on the calls? or do you guys not get anything until january 23? >> it varies. we are not on every conference call. we were certainly there while you were there for orientation in the first part of december. we have been briefed on many of the policy proposals. we are being kept abreast, but i would tell you, it is not quite like being a member of congress. host: that was congressman select "master. -- luke messer. we are taking your calls this morning and facebook messages. patricia rights in -- i want to go to don on the republican line from california. good morning. caller: canyon me? merry christmas, happy here -- hap
republicans. late today on the senate floor majority leader harry reid said what has become more and more obvious. the prospect of reaching a deal to avoid the fiscal cliff before january 1st is very unlikely. that's putting it lightly. let's watch. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind, but i have to be very honest, mr. president, i don't know timewise how it can happen now. >> well, that was plain. this afternoon senate minority leader mitch mcconnell said he wasn't willing to offer the white house a blank check just because we're on the edge of the cliff. take a look. >> last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the
. guest: if you remember on friday, the president said he was going to turn over the lead to senator reid and senator mcconnell to work out a deal that could pass the senate and that he would sign on to whatever deal that was. senator reid and senator mcconnell were not able to reach that deal. the negotiations between them have turned increasingly bitter and senator mcconnell basically said that he could not work with senator read anymore and reached out to joe biden and ask him to resume the role that he has had in previous negotiations. the arbiter, the deal maker. joe biden had not been as involved atoll has returned to washington and is now part of the negotiations in a way that he had not been expected to until yesterday. host: what will the house and senate be voting on today? will there be an agreement on the fiscal cliff or an alternative plan that would continue unemployment benefits and keep taxes at the bush era level? guest: i'm not sure that anybody knows. and that includes president obama, joe biden, senator reid, speaker boehner. there are not the many hours left until the
. peter: everyone looking to leader harry reid and the president for plan c. they were discussing next steps to advert the cliff before the holiday on monday. no update today from the white house. a spokesperson for senator reid is saying "nothing to report. no conversations with republicans let." the spokesperson says "no outreach from any democrats. we are waiting on senate democrats." it looks right now that the cliff remains inside. lori: i heard you talking to dennis kneale earlier. the house generally has to post something for three days. realistically, right, everyone will come back tomorrow, they probably will not have anything by friday. peter: if they do something by friday, the house could vote on something by monday, new year's eve. the weekend could count. absolutely. they can actually do whatever they want. they can vote to waive the rules. yes, they have this three-day rule for making sure all members can read any legislation, any proposal that comes over from the senate. under the constitution, the house sets its own rules. lori: these goucher should have centered on ta
>>> breaking news here. president obama, vice president biden, mcconnell, pelosi and reid and boehner are meeting to discuss the fiscal cliff. we are hearing the president's planning to present a smaller offer. for the latest, we bring in peter alexander from the white house and mike viqueira from capitol hill. peter, let's talk about what's going on at the white house meeting. i hear senators are optimistic about a mini deal which, of course, will raise taxes on those above $400,000. expand the amt, cut some spending. what are you hearing? >> reporter: well, hearing a lot of different things right now. one of the items and ruled by rumor and then denials and frustrations, toure. we know that we saw senators mcconnell and reid arriving a short time ago. we didn't pelosi and boehner arrive yet but the vice president joe biden got here a short time ago, as well. there's other reporting from the hill right now about the potential that the president is going to return to what was basically his original outlined plan. perhaps a smaller plan but a plan where the threshold would
to be that senator reid, the democratic leader is playing bad cop and joe biden is playing good cop. he certainly has a long history of talks and bipartisan negotiations with mitch mcconnell. i want to, over the past hour, we have spoken to two republican senators, i wanted to talk to claire mccaskill, thanks very much for joining us, they just ended their almost two-hour meeting, martin, two hours, what was going on in there behind those door? >> i know you will be shocked to hear that a lot of senators wanted to talk. >> that is shocking. >> everyone wanted to have their same i think the consensus is that we all still want to try to get a deal but some of us are very discouraged that what appears to be on the table now doesn't really do anything to reduce the deficit and this was all supposed to be an exercise in bringing down our deficit and our long-term debt and where we are right now, it doesn't appear that we are getting that done and even more importantly, it appears that republicans are still trying to protect the tippy top as opposed to looking after the greater good of the economy and midd
is more from washington d.c. >> reporter: senate for harry reid is trying to get republicans on board with the president's latest offer including raising taxes on those making 400,000 a year not 250,000. senator harry reid will pass this plan and does not want to put it to a vote unless he knows it will pass the housement they want to avoid fitting the call. house speaker john boehner held a meeting with fellow gop leaders and said he would give them 48 hours before calling them back from their holiday vacation meaning saturday is the earliest time a fiscal vote could take place on this deal. treasury secretary tim geithner said the united states will hit the debt ceiling on monday unless he takes extraordinary measures. they believe it could force congress to come up with a deal before monday's deadline but some republicans are not as optimistic. live in washington, ktvu channel 2 morning news. >>> they set $2 billion for unit who made her first court appearance. she was drunk when she hit a group of people. the woman was knocked up to a hill and she was studying criminal justice bef
the -- chargers's coach -- chargers' coach. >>> and we have just learned that andy reid was just fired. >>> 7:25. tara's back. some tricky driving this morning. some icy roads. >> that's right. we've been talking about this accident in the orinda area. let's take a live look from chopper 2. you can see the car overturned. it careened off the roadway due to black ice and went down the embankment. we just learned there's no injuries. that's the good news. this is near the san pablo reservoir on san pablo road on bear creek road. you can see just how far off the roadway it went. the crews are calling in extra cable too toy to -- cable to try to hook it up. there are icy roadways. so be careful in this area. you can see traffic moving nicely in both directions on 880. and 237 near milpitas, again, same story, no delays to report. 7:25. here's steve. >>> three dog night out there. it's cold. temperatures dipping in the 20s and 30s. pacifica, 41. that's pretty cold. our system coming in will just kind of take one direction north and one south leaving us in between. that's a very localized event. i
between mcconnell and senate majority leader harry reid. mcconnell says he and the vice president spoke last night at 12:45, again at 6:30 this morning. mcconnell explained why he reached out to his former senate colleague mr. biden. >> i also placed a call to the vice president to see if he could help jump start the negotiations on his side. the vice president and i have worked together on solutions before, and i believe we can again. >> obviously we were watching to see what the senate does at this hour, what is said at this point i'm hearing it sound like 2:00 eastern time may be another critical time, when they may run by their members, the republicans and the democrats, the latest on those talks, and if there is a deal the details of the deal, jon. jon: we just had senate majority leader read making some remarks from the microphone, perhaps i'll get to word from the control room in just a bit as to what he had to say. he's already peeled off the microphone, i guess he's done, mike, making his opening remarks. so what about the house side? is that where the ball lies right now? or j
in good spirits because the game was all for a good cause. kron 4's alecia reid tells us more. gabe slate tech repo (cheers & applause) >> this is awesome! >> i am very pleased with all this has played. >> it has been great for double and nation -- asidevil nation (cheers & applause) >> reporter: the fans were cheering on the other teams. >> i was expecting a good hard hitting game and that is what i am seeing. >> reporter: they picked a date by a steady lead from early on in. >> we predicted that a s u would have a victory. >> it is nice to see that the navy fans are going out early. >> sorry! [laughter] >> >> reporter: many people traveled from a long distance. >> we are from hawaii. >> it is awesome we are from the state of oregon. >> it is amazing, to see the distance and the difference- between both teams. (music) >> reporter: this helps fight hunger at at&t park alecia reed, kron 4 news . a new york woman has been charged with a hate crime for allegedly pushing a man to his death in front of a subway train. >>> police say the surveillance video they released helped find erika menend
inouye's funeral yesterday, along with other washington insiders, including his friend senator harry reid. he represented hawaii in congress ever since it became a state in 1959 and was the second-longest serving senator in u-s history. inouye received the medal of honor for his heroism during world war two. inouye died a week ago at accepts total responsibility senator michael crapo was arrested in virginia shortly after midnight, saturday night. alexandria police say the idaho republican ran a red light, then failed several field sobriety tests. police say crapo's blood alcohol level was point-one- one ; the legal limit for drivers in virginia is point-oh-eight. in a statement released by his office, crapo said he was -- quote -- "deeply sorry for the actions that resulted in this limit in virginia. the deputy police chief says an investigation is underway to determine whether the killing was intentional or accidental. it was not known whether the victim was a military orthe nato military command says it's looking into the bay area's favorite way the biggest parties and heenan and gary
on plan "b." we're in this horrible standpoint right now. asking harry reid to ask and president obama to act. >> harry reid's his lifeline. let me ask you this. everybody watches politics. this isn't cnbc here, it's politics. let's get a couple things straight. you say right now that today it's a democratic advantage. obama looks like the guy is trying to get it done. republicans are the holdouts. >> it's not just me. look at the gallup reports. republicans have been going down. >> obama's 54%. right now it's a democratic advantage. >> democratic advantage right now. >> midnight monday still a democratic advantage? >> no. if you go over the cliff, everyone's in trouble. >> wednesday morning next week which is only a week away and we're into 2013 and no deal's been made, do you accept the fact that both guys are in trouble? >> i think it's a jump ball. i'm not sure what happens at that point. it depends on what the markets do. we'll say this. president obama doesn't have to worry as much as the members of congress do because he's not on the ballot again. >> but if there's a second rece
including tying social security to the chained cpi index. aides say talks between harry reid and mitch mcconnell focus on extending middle class tax breaks and renewing unemployment benefits. president obama says the u.s. markets and economy will suffer if congress fails to act. and here is what the major players had to say at least publicly this weekend. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would continue to tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. >> the sticking point appears to be a willingness, and interest or frankly, the courage to close the deal. >> i will say this. i think that the republican leader has shown absolutely good faith. it's just that we are apart on some pretty big issues. >> i want everyone to know i'm willing to get this done. but i need a dance partner. >> mitch mcconnell, who you just heard from there, is trying to enlist vice president joe biden in the fiscal cliff talks. in the absence of a deal, senator reid
in days. >> washington remains in the same fiscal cliff clitalks. >> reporter: senator leader harry reid and john boehner are both frosty saying it's in the other guy's court saying to avert the largest tax hike in history and reid saying it's time for house republicans to put middle class families first. >> if we go past no deal, the markets are likely to decline in a significant way and involve most americans and they don't want to have themselves blamed for that. >> reporter: already stocks have dropped three days in a row over fiscal cliff fears. from wall street to main street, it is building. >> both parties to are to blame if they don't come up with something. >> we are really in what amounts to a fiscally irresponsible position trying to please everyone and please no one at all. >> reporter: even starbucks tries to hand out advice writing "come together" on every cup. >> reporter: washington could use a warm cup of coffee on a morning like this. complica complicating conversations going forward. treasury secretary, timothy geithner says on the 31st, the u.s. will hit the credit c
." from washington, i'm krystal ball. reid calls boehner a dictator. ah, the holiday spirit. it is alive and well here. >>> i'm steve kornacki in new york. doesn't matter where you are. we are going to slide down the slope if a deal isn't reached. some faster than others. today, what you don't hear in all of this. straight talk when it comes to your wallet. >>> i'm toure. a big day today. anti-fragile. chaos can be good. oh, we'll make them mad today. >> maybe a little too much chaos for us who's still feeling under the weather, s.e. but we have a whole hour of "the cycle" starting right now. >>> it's basketball thursday here on "the cycle" and we have a classic for you as we relate dr. nasmith to the fiscal whatever here in washington. we take you to washington for last night's cavaliers-wizards game, a classic between the boehner-led cavs at 6-23 against the harry reid wizards at 3-22. pay attention, kornacki. cleveland won. the final was 87-84. this even though cleveland's best player irving missed 9 out of 10 shots in the second half and missed 4 out of 6 free-throws with no one guar
majority leader harry reid, house minority leader nancy pelosi, senate minority leader mitch mcconnell, and house speaker john boehner. have four dates to reach an agreement, but the u.s. economy would go off a fiscal cliff. that's when automatic spending increases and spending cuts would take effect. -- a deal will not be easy, because both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president we would be happy to look at whatever he proposes. the truth is we are coming up against a hard deadline. this is a conversation we should have had months ago. clerk democrats want to extend bush-era tax cuts to everyone except those americans making to a hundred $50,000 or more per year. many republicans are against any tax increases. -- democrats want to extend bush-era tax cuts to everyone except those americans making $250,000 per year. >> d.c. mayor vinc
, nothing new to report. we don't know yet what senator reid plans to bring to the senate for a vote. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all additional tax revenue for new programs. he gets to cut the military which democrats have been calling for for years, and he gets to blame republicans for it. >> what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference, that would be a package of about 2.6 trillion dollars. you couple that with the 1.1 trillion that's already been done, that would be close to the 4 trillion dollars that's needed to stabilize the debt and begin to bring it down. peter: the president and the speaker say they will cut their vacation short to return to washington later this week to try to get back to work to hammer something out. dennis and dagen? dagen: peter, aren't they nervous about this? do you get that sense from them at all down in washington that, like, the time i
, that meeting gets underway in less than five hours at the white house. senate leaders harry reid and mitch mcdonnell and john boehner and nancy will sit down with president obama. it's the first time all five are meeting since november. economists hope they'll come up with a plan to avoid automatic tax increases and government spending cuts. some fear the meet as good just for show, however a big development with the senate minority leader. he spoke directly with the president for the first time in negotiations. >> i told the president we would be happy to look at whatever he proposes but the truth is we're coming up against a hard dead line here and as i said, this is a conversation we should have had months ago. >> the main sticking point is who should pay more in taxes. democrats want a hike on households making more than $400,000 a year and republican aids say their leaders might get on board with that offer. >>> meanwhile if they aren't able to avoid the fiscal cliff people here in alabama will be especially hard hit. that's because prop 30 will soon mean higher sales taxes and higher
optimism. a senate democratic leader harry reid on his way into the building expressed optimism. stuart: but peter it is only optimism for this super narrow, narrow deal where there's simply a number thrown out there, 400,000 or 500,000 or 250,000 and above that level you pay more tax, below it you don't. that's all it is, isn't it? that's all. peter: yeah, so far. i think that part of the -- part of the head winds, part of the problems with this deal is about all these extra things that we're talking about here, the alternative minimum tax, the 92 billion dollars patch for 30 million people so they don't get caught up in that. and then the medicare fix which is a cut in medicare payments. the sandy flood insurance, emergency supplemental, 60 billion, house hasn't said it will take that up yet. you are right, there's a bunch of other pieces of fruit on the tree that have to be plucked. stuart: may i make a prediction? it is this, you peter barnes will be working until 11:59 this evening. do you think? peter: and happy new year to you too, stuart. [laughter] stuart: i'm serious. i think
and a lot of misinformation. harry reid is still blaming grover norquist. send him a memo that norquist took himself out of the discussion a week ago when he backed the house republican plan "b." it's like the old stale talking points. for me, the big picture if you take a step back from this, the big picture story here is one of misplaced outrage. media folks with the commentators on all sides complaining there is a lack of compromise. we need comedy in washington. everybody should come together as starbucks barristas want. the real outrage is what started as an effort to trim the size and scope of government, the push tax cuts a decade ago or whether it was the debate over the debt ceiling, just over a year ago, is going to likely end up at asen effort to expand the size and scope of government. that is something that can only happen in washington. you have people that come together to limit government and bunch of contortions and missed opportunities and bad negotiating, it becomes a de facto expansion of government. >> charles? >> well, you know, there are two events that will happen jan
this time around the idea that the president and harry reid in the senate don't have enormous power to get a deal done or stay here. don't go away for the holidays. maybe go to camp david like push did only 8 times and actually get the job done for the american people it's convenient to say it's the tea party fault i am not here to scapegoat then. americans though we have three branches of government. nothing can get passed unless the senate and house both pass bills, right? a tea party is a part of the equation. they do not have the amount of influence that they had before. but they are certainly are necessary to come to some sort of deal here if we're going to get anything done before january 1. i think the bottom line is this: we do not have a short-term deficit crisis. i agree with katrina on that point. we have a revenue problem. and a growth problem. we have millions of americans out of work. that. >> laura: zerlina, you have to be better at math than that. >> i'm very good at math, actually. >> laura: 90% tax rate on the upper income level on the united states is a drop in the buck
harry reid and mitch mcconnell will be at that meeting scheduled for about seven hours from now. this could be their last chance to find terms they can all agree to. the president and senate got back to work yesterday. the house of representatives just got the call to return sunday night. a vote has been taken by monday or else automatic income tax increase will kick in on tuesday. republican aid say their leaders might now get on board with that. even so there is economic proof that many americans still fear going over the fiscal cliff. i'll have more on that in my next update. live in washington kyla campbell ktvu channel 2 news. >>> analysts say if the country goes over the fiscal shift it could send the economy back if into a recession. >>> secretary of state hillary clinton is expected to return to work next week. a specksman for clinton says she continues to recooperate at home. doctors say clinton contracted a stomach virus earlier this month and became dehydrated and fainted. >>> the sonoma county sheriffs office will continue its search today for a possible plane crash.
harry reid before going to hawaii and his offer was to extend the tax cuts for incomes under $250,000, extend unemployment insurance benefits, and the lady across the board automatic cuts that are supposed to start january 1. that seems to be a non starter with republicans. it's hard to see where we go from here. host: have they been talking over the christmas break at all? also, one has been the role of senator mitch mcconnell? guest: the line that comes from the speakers office all the time is the line of communication remain open. i don't know how much talking they did as the president was in hawaii spending time with his family and the speaker was back home in ohio, i believe. i don't know that for sure. everyone was doing their family time and not really working that significantly on something. i think there was probably some minimal conversation, but not a lot. as for the senate minority leader mitch mcconnell, i think that is a good one. a lot has been made in the past few days about him taking a higher profile role in these negotiations. while i don't like prognosticating
and harry reid, leader of senate democrats essentially saying entitlements are off the table when we know entitlements are the biggest drivers of debt. gregg: there may be a reason for that. marjorie, senator john barosso chairman of the republican policy committee put his finger on it. he believes the president is eager to go over the cliff for political reasons because he senses victory at the bottom of the cliff. those are his words verbatim and, you know, then the president gets to punish republicans. and he also might get more money in a for taxpayers, from taxpayers to expand the government. what about that? >> well i have a really hard time believing anybody, republicans or democrats would win from going over the cliff. talking about potentially putting country in recession, what it would do to the markets. here's the deal. these type of negotiations what we lost a $4 trillion opportunity when boehner and obama were at the table having talks prior to the holiday. what we're looking at really condensed timeline of $1.5 trillion. kay bailey hutchison and other senate republicans come
reid will have a plan c ready to go and rumors after $400 billion price tag. >> big chunk of change. we're eyeing a massive winter storms that spawned at least last night this deadly tornado. as it moves north, that storm we'll look at the danger it poses for many americans especially if you're trying to travel anywhere today. folks there living through rare holiday twisters react to a christmas day storm they say they will never forget. >> i've never seen one in real life. just to be able to hear one from that far away, it is about a mile from where we are and you could still hear it. it was, it was pretty amazing. [ mother ] you can't leave the table till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! kelly: "fox business alert." with just days until taxes go up on almost every american, there's a growing debate out there over whether top senate democrat leader harry reid will even have a plan-c to avoid the oncoming fiscal cliff and whet
will have to workout a compromise between harry reid, mitch mcconnell the democratic and republican leaders, and the president who is here in hawaii when you talk to his staff they say it's very likely some time after spending christmas with his family, whether it's the middle or later part of this week he's likely to head back to washington to sit down with congressional leaders and try to work this out. >> reporter: it's a bit encouraging for a lot of folks who were wondering about that question. i'm curious is there anyone on the island that is critical to the fiscal talks that joined the president on this trip or is everything being done electronically? >> reporter: most electronic leave. the one interesting point is when i mentioned the memorial service for senator inouye the person giving the oo eulogy was harry reid. they may have got even a chance for a little private time. the president and john boehner have not had any phone contact since friday. their staffs are still communicating but still really very little progress, jaime. >> reporter: thank you so much,ed appreciate the repo
minutes away from this session, will include the president, congressional leadership, harry reid, john boehner, last-minute invite and mitch mcconnell. here is what they are considering. we have $5 billion in additional taxes kick in after the first of the year. this will affect everybody including middle-class people, $3,500 is the average tax hit for american families. what happened to consumer confidence? is down dramatically. people getting a sense of what will look like and constrain their lives. the wealthier you are the more you pay. a lot of people out there are suddenly and the only now getting the sense of how much money this is going to be and they don't like it one bit. adam: is their legitimacy to selling off government assets? will homeowners do it? chicago did it, they sold off their parking meters, not popular in chicago. gerri: it is usually desperation police. you saw the city of baltimore, ball park or something, things are as bad as they're going to get and we have to do what we cannand usually they are entrenched interests that won't that use of amtrak or that kind
reid, and john boehner. host: here is a twitter message. a lead story in "the washington post." janesville, wisconsin, independent. good morning. what is your level of optimism? caller: i am not very optimistic they will get anything done. i am not optimistic that will find a job. host: what kind of work are you looking for? caller: anything. i cannot even get hired at a retail store because i do not have experience. i have the manufacturing all of my life. i lost my job in 2008. i have updated my skills, and still, no calls. host: when you look at people in washington and what they are dealing with, what goes through your mind? caller: i think they are out of touch with the people. i think the unemployment rate is a lot higher than the what they say it is. host: thank you for calling. steve is calling from troy, michigan. caller: there has been a lot of misrepresentation of the fax. i am not very optimistic for the future of our country. -- misrepresentation of the f acts. taxes will be going up no matter what they do. gm does not pay any taxes and they ship jobs out of the c
. and the hard place? >> yeah. the hard place is the negotiations. you think about it. reid and pelosi and boehner and obama all trying to come to an agreement? that seems almost impossible, doesn't it, when you know all of them? gregg: how do you close the tax gap? >> yeah. right now you can not do it. so the tax gap, at least in my opinion, would be the deficit. it's over a trillion dollars. if we raise everyone today, that pays the top tax rate, 35%, if we taxed them at 100% on all the money that they currently pay 35% on, and remember, i'm assuming that nobody changes their behavior. they still work just as hard even though they pay 100% tax, we would only raise $360 billion in this coming year. and that would still leave an $800 billion deficit. we can not tax away the deficit. gregg: sure we can. we can do the value-added tax. >> well, and that's what worries me. if we don't cut spending, spending right now, the federal government is the largest it has ever been as a share of our economy. it takes up more of our economy than ever, the only way to pay for it is to put in a europea
boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the president has insisted on a tax hike for the healthy but wants that at $250,000 or $400,000 and not one mill yen and even though the president scaled back his expectations for what can be accomplished some democrats said a grand bargain shouldn't be that hard to reach. >> we ought to take peeker boehner and the president's last offer and split the difference and it would be a package 2.6 trillion can couple that with 1.1 trillion and that would be close to four trillion needed to stabilize the debt and bring it down. >> the president and members was congress will return to washington wednesday or thursday and try to hammer out a deal. most likely a short-term deal to get us past the cliff. >> gretchen: thank you for the great news out of washington today . now the rest of the headlines, nato confirming that civilian u.s. contractor was shot dead by an afghan policewoman of kabul. it
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